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What is the price of a 9-year, 8.5% semi-annual coupon bond with $1,000 face value if the yield to maturity on similar bonds is 4.9%?
What is the price of a 9-year, 8.5% semi-annual coupon bond with $1,000 face value if the yield to maturity on similar bonds is 4.9%? Round to the nearest cent.
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